Facebook Pledges $100 Million To Help News Media Affected By Coronavirus Pandemic

Social media giant Facebook on Monday announced that it was donating $100 million to support news organizations globally that have been impacted by the coronavirus pandemic, which is also affecting journalism at a time when people rely on information to stay safe from the crisis.

"The news industry is working under extraordinary conditions to keep people informed during the COVID-19 pandemic," said Facebook's news partnerships director, Campbell Brown.

"At a time when journalism is needed more than ever, ad revenues are declining due to the economic impact of the virus. Local journalists are being hit especially hard, even as people turn to them for critical information to keep their friends, families and communities safe,"

According to the social giant, the new funding includes $25 million in emergency grants for local news through the Facebook Journalism Project, while $75 million will be used for additional marketing efforts "to move money over to news organizations around the world."

However, Facebook says it will offer grants "to publishers most in need in the hardest hit countries." This move by Facebook comes amid growing concerns of cutback and closures of news organizations hit by lockdowns and which has resulted in a drop in advertising as a result of the coronavirus pandemic.

Facebook and Google, in recent months have stepped up their efforts to help news organizations, following criticism that their dominance of online advertising has made it difficult for media to profit from digital operations.